Despite significant global geo-political and market volatility, QIC has delivered $3.7 billion for the Queensland Government in 2021-22.
QIC CEO Kylie Rampa said the corporation produced positive investment performance for the Queensland Government’s funds managed by the corporation.
“Delivering $3.7 billion builds on a healthy surplus within the funds managed by QIC, including its defined benefit liability – and that value is just what was produced for the Queensland Government, not for QIC’s private investors,” Ms Rampa said.
“In a year where rising inflation and heightened geopolitical tension were significant influences on markets, this is an outstanding result and strengthens the State’s balance sheet.
“During periods of such volatility, our value proposition is reinforced. We construct and manage resilient portfolios on behalf of our investors aimed at delivering attractive, risk-adjusted returns.
“The result achieved for the State is demonstration of that value proposition in action.”
Ms Rampa said QIC is one of Australia’s largest wholesale fund managers, with more than 100 local and international institutional clients, and $98.7 billion in funds under management at 30 June 2022.
“We are proud of our status as a government-owned corporation and the high standards of investment and financial management it fosters,” she said.
“QIC reported a net profit after tax of $92.2 million. In addition, by growing our client base and funds under management, QIC increased its after tax profit by 29% compared to the previous financial year.
“In this context, QIC has also delivered an additional $255.5 million to the Queensland Government as a shareholder through profit, tax equivalents and other payments.
“That means more funds for the State to invest in its priorities such as schools, hospitals and other important community services and infrastructure,” Ms Rampa said.
Today, QIC’s investment capabilities comprise infrastructure, real estate, private debt, fixed interest and overlays, natural capital and private equity.
More Information
QIC is a trusted investment manager and adviser providing seeking to provide risk adjusted returns for the clients we serve. As one of the nation’s leading institutional investment managers, we deliver alternative real asset solutions across infrastructure, real estate, private debt, private capital, natural capital in addition to a liquid market offering for our 125 Australian and global clients. We also act as the Queensland Government’s independent investment advisor, managing a fully-funded Defined Benefit scheme and the Queensland Future Fund both of which aim to delivers on the State’s long-term investment objectives. We have A$98.7bn (US$67.9bn) in assets under management (as at 30 June 2022) and are headquartered in Brisbane, Australia, with offices in Sydney, Melbourne, New York, San Francisco and London.
QIC Limited ACN 130 539 123 (“QIC”) is a wholesale funds manager and its products and services are not directly available to, and this document may not be provided to any, retail clients. QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (QLD). QIC is also regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) (“Corporations Act”). QIC does not hold an Australian financial services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. Other wholly owned subsidiaries of QIC do hold AFS licences and are required to comply with relevant provisions of the Corporations Act. QIC also has wholly owned subsidiaries authorised, registered or licensed by the United Kingdom Financial Conduct Authority (“FCA”), the United States Securities and Exchange Commission (“SEC”) and the Korean Financial Services Commission. For more information about QIC, our approach, clients and regulatory framework, please refer to our website www.qic.com or contact us directly.
For more information about QIC, our approach, clients and regulatory framework, please refer to our website www.qic.com or contact us directly.
The statements and any opinions in this document (the “Information”) are of a general nature and for commentary purposes only and do not take into account any investor’s personal, financial or tax objectives, situation or needs. The Information is not intended to constitute and should not be relied on as personal legal or investment advice and it does not constitute, and should not be construed as, an offer to sell or solicitation of an offer to buy, securities or any other investment, investment management or advisory services.